News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
This seems like a much bigger deal than the news has portrayed. It seems like Trump feels like he can't do fun things (bomb Iran) because of the oil stockpile. So he is doing anything he can to try to show markets that he has oil so he can get back to doing fun.
Consumption of US is 19.4 million barrels a day.
https://www.ceicdata.com/en/indicator/united-states/oil-consumption So 65 billion seems like a lot.
However, "The bulk of the country’s petroleum is made up of heavy, sour crude oil—a dark, gloopy, acidic substance that is both high in sulfur and relatively difficult to recover. This type of crude oil is very useful in asphalt production, but it needs to undergo a longer refining process to be made into more lucrative products, such as gasoline and other fuels, compared with lighter crude oil" https://www.britannica.com/science/How-Much-Oil-Does-Venezuela-Have-and-How-Much-Is-Accessible
If our processes are set up to process one type of oil, can we even switch to another type? How many refineries can do it? How much is wasted in the process and what is the rate? This seems like everything trump does: effective on a first glance but the moment you start thinking or asking questions it falls apart
Actually, most US refineries are set up to refine that heavy goop. It is not dissimilar to Alberta's tar sands product (bitumen). And most US oil comes from Canada.
Him getting this oil is a piece of leverage against Canada and trying to remove a card from Canada's deck against him taking our country.
And it has the subtle weakness of a tanker and port bottleneck
Also, as CBC pointed out this morning, this is basically the same annoucement he did when the US first took Venezeula.
Since then, apparently none of the oil companies have moved into Venezeula, so this might be an attempt to get any traction there.
"Venezuela's oil exports fell slightly to 1.16 million barrels per day in July from 1.2 million bpd the previous month as the country drained fewer inventories, but exports to the U.S. jumped to some 786,000 bpd, the highest since early 2019, shipping data showed on Monday." https://www.reuters.com/business/energy/venezuelas-oil-exports-fell-slightly-july-cargoes-us-rose-2026-08-03
No new projects are shovel in dirt.
Lots of promises and deals in thr making with Venezeula